Income Portfolio buys

After taking our profit in Macquarie Group, the cash weighting in the Intelligent Investor Equity Income Portfolio had grown beyond 10%. We're fine with that, particularly given that decent opportunities are thin on the ground. However, we're also very happy to top up our existing holdings, where they offer good value and subject to maintaining appropriate diversification. That's the position with Trade Me and Scentre Group, and we recently increased our weighting in both stocks to 7.0% and 4.5% respectively (from 5.3% and 3.5%) at average prices of $4.09 and $3.88.

That puts us slightly above our 6% recommended maximum for Trade Me, but note that those maximums are set conservatively for all investors. Those that monitor their portfolios closely and pay close attention to overall exposures may be prepared to stretch things a little and that's the case here.

Trade Me also sits alongside other online classifieds: Seek (4.8%), News Corp (much of whose value is from property classifieds, including REA Group and Move, 4.0%) and Carsales.com (3.2%), but has slightly different exposures, being exposed to New Zealand rather than Australia and being spread between property, jobs, motors and general merchandise.

Find out how you can invest directly in these and other Intelligent Investor and InvestSMART portfolios by clicking here.

Intelligent Investor is loading up the van and going on tour in April and May, with events on the NSW central and north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. If you'd like to hear us talk about building a portfolio to weather any storm, book your spot here.

Disclosure: The author owns shares in Trade Me and Seek.